Finance (Miscellaneous Provisions) Act, 1956
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Computation of profits from new coal-mining operations for income tax purposes. |
6.—In computing, for the purpose of assessment to income tax, the amount of the profits from any new coal-mining operations— | |
(a) the new coal-mining operations shall be treated as a separate trade, and | ||
(b) any corporation profits tax which, by virtue of section 7 of this Act is not payable, shall be deemed to have been paid. |